The new Dishwashers are an addition to Samsung’s existing range of home appliances to elevate lifestyles

SINGAPORE – Media OutReach – 19 July 2022 – Samsung Electronics Singapore has unveiled a new category of home appliances – dishwasher – adding on to Samsung’s existing range of home appliances for cleaner homes.

The launch of the Samsung Dishwashers seeks to elevate the lifestyles of Singaporean households and cultivate the mindset of having an effective dishwasher to help consumers keep their kitchenware hygienic. The Dishwashers also comes with a slew of features that make cleaning a beeze, with smart features that help users monitor, control and personalise their dishwashing experiences[1].

The Samsung Dishwashers are available in two models, a Standard model and a Smart model. The latter feature SmartThings connectivity and additional specialist programs for a personalised cleaning experience. Both models offer Hygiene Care, which effectively eliminates 99.999% of bacteria[2] with every wash.

Gavin Yeong, Head of Digital Appliances, Samsung Electronics Singapore said: “The pandemic has raised the cleanliness and hygiene standards of Singaporeans, and we have also noticed that homeowners are looking for home appliances that can meet these new standards, without compromising efficiency and convenience. Samsung’s new Dishwashers aim to meet those standards, while also elevating our consumers’ lifestyle.”

Elevating Lifestyle through Effectiveness and Convenience

The Dishwashers are available as freestanding models, enabling homeowners to retrofit their dishwashers with their cabinets, or as a standalone unit. Homeowners have a choice of classic stainless-steel finish for the Standard model or black matte finish for the Smart model, both equipped with features for effective cleaning and convenience.

• Hygienic Cleaning for Your Dishes

The Dishwashers come with a Hygiene Care option, which extends the final rinse and increases the water temperature to 70˚C, allowing a more thorough clean to eliminate 99.999% of bacteria². This offers consumers a greater peace of mind, ensuring that the dishes are clean and safe for usage.

• Fast and Effective Cleaning and Drying of Your Dishes

The Samsung Dishwashers boast an innovative Auto Door Open feature, whereby the door will automatically open at the end of the washing cycle to allow a 10cm space for steam to escape so that the items can dry faster, especially for plastic and small items.

For families who are pressed for time, the Smart Dishwasher model comes with an additional feature called Speed Booster. This feature allows consumers to speed up their cleaning cycle and will be ideal for homeowners who need dishes cleaned quickly, especially before or during family gatherings or home parties.

• Water Saving

Certified with 3 Ticks under the Mandatory Water Efficiency Labelling Scheme (WELS), homeowners can be assured that the Samsung Dishwasher not only thoroughly cleans, but also helps to save water and costs in the long run.

• Greater Convenience for users

The interior of the Dishwashers has also been specially designed to help consumers better manage their dishwashing load.

Homeowners will welcome the Soft Railing feature, which utilises a ball bearing rail system that creates less friction. This ensures that the rack slides in and out smoothly with little effort, even with heavier items such as your pots and pans on it. It also minimises the risk of items falling out of the dishwasher as it is also more stable.

With Flex Load, consumers can fit in dishes, glasses and pots or pans of different sizes much more easily and safely with three different settings for the middle rack. The lower rack’s tines can also be adjusted accordingly to fit in larger sized cookware, and a Tumbler Support can safely hold delicate items such as glasses.

What’s more, the Dishwashers also come with the Auto Adjust feature to allow consumers to quickly adjust the middle rack up or down to create more space in the lower rack, allowing kitchenware of various shapes and sizes to be fitted.

Consumers can further optimise the space within the Dishwasher with the Convertible Metal 3^rd Rack, which serves as a dedicated area for their cutlery and kitchenware. With the top rack being detachable, consumers can look to switch up their rack spaces to accommodate various loads for each cleaning cycle, making room for larger kitchenware if needed.

• A Smarter Way to Clean Your Dishes

The Smart Dishwasher model supports SmartThings[3], providing consumers a smarter way to customise their dishwasher. With SmartThings, they can remotely start the cleaning cycle and monitor the status using their smartphone.

Consumers can also personalise their cleaning experience further using the Download Program option in the SmartThings app with our four additional specialist programs Extra Silence, Pots and Pans, Plastic Kitchenware and Baby Care.

These options allow consumers to further optimise their dishwasher to suit the various loads they are looking to clean. The Extra Silence program provides a quieter wash, the Pots and Pans program helps to clean dirty cookware without pre-rinsing, the Plastic Kitchenware program minimising the risk of plastic items warping and lastly the Baby Care program suitable for washing their babies’ feeding bottles, cutlery and dishes.

Availability and Pricing

The new Dishwashers will be available now for purchase on the Samsung Online Store, and all major consumer electronics stores.

The Smart Dishwasher (DW60A8050FB/SP) retails at $1,799 while the Standard Dishwasher model (DW60A6092FS/SP) retails at $1,299.

Model Specifications[4]

Hashtag: #Samsung

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.

The joint venture project’s success will mark a significant step for Taiwan to meet their renewable energy goals

IPEI, TAIWAN – Media OutReach – 19 July 2022 – NEFIN Group (“NEFIN”), Asia’s leading carbon neutrality solutions provider and investor, has signed a binding agreement with their business partner, Solarlink Energy Co., Ltd. (“Solarlink”), to cooperate on a large-scale solar development project in Taixi, Yunlin of Taiwan.

The National Development Council (“NDC”) of Taiwan unveiled a road map in late March 2022 for Taiwan’s push to become “carbon neutral,” with sources of renewable energy to account for at least 60% of the nation’s energy mix (with nuclear power excluded). According to NDC Minister Kung Ming-hsin, Taiwan is capable of increasing electricity supply by 2% each year, sufficient for companies to expand their operations. NDC also revealed that heavy users of electricity, such as Taiwan Semiconductor Manufacturing Co., have inked deals to buy green energy to be developed by local suppliers for the next 20 years. The strong partnership between NEFIN and Solarlink will essentially help the Taiwan government to achieve its sustainability goals.

“Solarlink’s solar development experience and strong local relationships will be crucial for this project’s success,” said Mr. Ken Ng, CIO of NEFIN Group. “By combining Solarlink’s strengths with NEFIN’s financial backing and solar technical capabilities, we have created a potent combination that has the potential to be a very strong player in the area.”

With the strategic substation land asset with up to 500MW substation capacity and the financial backing from NEFIN, the project is well-positioned to realize the Government’s vision to make Taixi one of the leading centres for solar generation in Taiwan. It will also provide stable rental income for landowners and create construction and O&M jobs for the local community. Meanwhile, solar expertise in the region will be groomed for more long-term development. Another benefit to be brought along by the project is continual support to local community projects, especially to elderly welfare.

With strong support from the local community, this project will be developed in partnership with local and government stakeholders as a collaborative effort to realise Taiwan’s renewable energy goals. “Both the teams at NEFIN and Solarlink are looking forward to developing this meaningful project,” said Mr. Roger Hsu, Executive VP of Solarlink Energy Co., Ltd. “Together with key stakeholders, we will make a collaborative effort to leave a lasting positive impact on the local economy and community.”

Mr. Sam Lee, Deputy MD of NEFIN Taiwan, said “Following the latest policies advocated by Yunlin province and Taiwan government, NEFIN is going to partner with Solarlink and farmers in Taixi to develop a large-scale solar system with an aim to foster growth of green energy usage and local prosperity.”

NEFIN, along with its shareholder AC Energy Corporation (ACEN), have collectively developed over 3000MW of utility-scale, commercial, and industrial rooftop solar systems and renewable energy projects in its combined portfolio globally with 8 years of strong track records. Being a one-stop turnkey provider to multinational corporations across its renewable energy portfolio, NEFIN simplifies the process of going green.
Hashtag: #NEFIN

About NEFIN Group

NEFIN is a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN, funded by AC Energy Corporation (“ACEN”), has collectively installed over 3,000MW of utility-scale, commercial and industrial renewable energy systems. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest and oldest conglomerates in Philippines, founded by the Ayala family in 1834. With its regional and multidisciplinary team, NEFIN offers comprehensive assessments and a full-suite of services to evaluate the ESG impact and commercial viability of projects through innovative approaches to technology under its unified energy management platform.

With a mission of “Achieving Carbon Neutrality for You”, NEFIN is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. NEFIN believes the future of the world is everyone’s responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN’s website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.

About Solarlink Energy Co., Ltd.

Founded in 2006, Solarlink focuses on environmental energy development, recycle and production of solar silicon materials, with a goal to become a leading provider in Taiwan. Besides manufacturing, Solarlink has started solar plant design and construction business in 2012. By 2013, Solarlink has developed its first solar plant project in Hyogo Prefecture of Japan. Currently, Solarlink builds and operates power plants at Taichung region and solar businesses at its origin, Yunlin. In 2018, when the Executive Yuan announced 2019 being the first year for Regional Revitalization, Solarlink started to dive deep into the core values and principles of Regional Revitalization. Fishery and electricity symbiosis, social well-being and youth returning to hometown and related behavioural changes are planned and executed thoroughly, with an aim to achieve sustainable prosperity for the Yunlin and Coast Line regions.

Goodman will preside over Okta’s entire business operations and spearhead the company’s growth plans in the region.

Goodman has over 20 years of experience in the technology industry leading hyper growth businesses across the region, executing sales strategy and establishing strategic relationships with the APAC partner community. He was most recently senior vice president and general manager for New Relic Asia Pacific and Japan.

Goodman has previously held senior sales and channel leadership positions at Adobe, Dell, EMC, and Pure Storage.

Steve Rowland, Chief Revenue Officer of Okta, said: “Ben is a proven leader in the technology innovation and digital transformation business. Having spent nearly a decade in Singapore overseeing key growth markets in the region, he complements his business acumen and tech know-how with an incisive understanding of APAC customers’ needs. Okta’s prospects are bright with him on board.”

Goodman, on the other hand, has a long-time positive association with the Okta brand.

“Having been a customer of Okta for over eight years, the value of a strong identity and access platform has always been evident − both from a security and productivity perspective,” said Goodman. “As organisations in APAC intensify their mobile and digital strategy, this value will increase many-fold in the years ahead. I am thrilled to be able to join a company I have so much personal belief in, and to lead its growth in one of the world’s most dynamic regions.”

Hashtag: #Okta

About Okta

Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 15,800 organizations, including JetBlue, Nordstrom, Siemens, Slack, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.

The series was launched by the VinFuture Foundation with the goal of promoting the community-oriented values of science and technology, inspiring domestic and international scientists, especially young scientists, as well as sharing knowledge in an engaging and accessible way to science enthusiasts.

The InnovaTalk webinar series includes six seminars taking place on Zoom from now until the end of November 2022.

Each seminar will be led by a member of VinFuture’s scientific councils or a VinFuture Prize laureate. Invited guest speakers are leading international scientists from different high-tech fields and distinguished professors from top global universities and research institutes, such as the University of California system, University of Illinois Urbana-Champaign, University of Oxford, Stanford University, National University of Singapore, and other prominent universities.

A highlight of the webinar series is the active participation of the Vietnamese scientific community with leading domestic scientists and experts from technology institutes and academies, as well as representatives from businesses, organizations, ministries, and departments. Through discussions and interactive activities, VinFuture Foundation expects to portray the meaningful roles and contributions of the Vietnamese scientific community in the global value chain.

Sharing about the networking event series, Dr. Le Thai Ha – CEO of VinFuture Prize said: “With the 2022 InnovaTalk series, we want to join hands to resolve global issues. Each webinar opens up an opportunity to connect science and technology communities, promote interaction and cooperation, and help accelerate the development of industries towards a healthy, modern, and sustainable society after the COVID-19 pandemic, following the “Reshaping and Reviving” theme of the 2022 VinFuture season.”

On June 29, the first webinar was successfully held with the theme of “High-tech Agriculture – Transgenic Livestock”. The second InnovaTalk webinar is scheduled to take place on July 26, 2022 with the theme of “Cancer Measurement at the Point of Care”. Professor Chi Van Dang, member of the VinFuture Prize Council, Scientific Director of Ludwig Institute for Cancer Research, USA, will chair the webinar. The webinar’s focus will be a presentation on methods and techniques to help develop precision cancer diagnosis technology from Professor Brian T. Cunningham – Intel Alumni Endowed Chair of the Department of Electrical and Computer Engineering, Director of Center for Pathogen Diagnostics, University of Illinois Urbana-Champaign.

To listen to the speakers’ presentations, as well as participate in discussions and interactions in the second webinar with the theme of “Cancer Measurement at the Point of Care”, interested viewers can register to join the webinar at: https://cloud.info.vinuni.edu.vn/vinfutureprize_innovatalk_2022_webinar_2

Through the webinar series, VinFuture aims to build a platform for more than 2,000 viewers to connect with science, exchange knowledge, and discuss with scientists and scholars about pressing global issues.

InnovaTalk webinar series’ topics:
1. Webinar #1 (June): High-tech Agriculture – Transgenic Livestock
2. Webinar #2 (July): Cancer Measurement at the Point of Care
3. Webinar #3 (August): Artificial Intelligence
4. Webinar #4 (September): Green Energy
5. Webinar #5 (October): Advanced Materials
6. Webinar #6 (November): Environmental Sustainability

Hashtag: #VinFuture

About VinFuture Foundation

The VinFuture Foundation, established on December 20th, 2020, on the occasion of International Human Solidarity Day, is an independent, not-for-profit foundation established by Mr. Phạm Nhật Vượng, the Chairman of Vingroup JSC, Vietnam’s leading private conglomerate, and his wife, Madam Phạm Thu Hương.

The vision and mission of the Foundation are to create positive changes in the lives of millions of people in the world. The core activity of the Foundation is awarding the annual VinFuture Prizes to breakthrough scientific research and technological innovations that have already contributed or have the potential to contribute to the betterment of life for people.

The VinFuture Prize consists of four prize categories, of which the Grand Prize – with a value of US$3 million – is one of the largest annual global prizes, and three additional Special Prizes, worth US$500,000 each, are dedicated to Female Innovators, Innovators from Developing Countries, and Innovators with Outstanding Achievements in Emerging Fields.

In addition, the Foundation also conducts many activities to realize its mission, such as funding research, collaborating in academic development, and promoting STEM education.

The 2021 VinFuture Prize Laureates
The Grand Prize: Dr. Katalin Karikó, Prof. Drew Weissman (USA) and Prof. Pieter Cullis (Canada) with their breakthrough research on mRNA technology for vaccines.

Special Prize for “Innovators with Outstanding Achievements in Emerging Fields”: Professor Omar Yaghi (USA) with his work on discovering Metal-Organic Framework Materials (MOFs)

Special Prize for “Female Innovators”: Professor Zhenan Bao (USA) with her work on developing flexible electronics with the sensing properties of human skin.

Special Prize for “Innovators from Developing Countries”: Prof. Salim S. Abdool Karim and Professor Quarraisha Abdool Karim (South Africa), for their Research on Pre-Exposure Prophylaxis with Antiretrovirals to prevent transmission of HIV.

• Global Claims Review 2022: Allianz Global Corporate & Specialty analyzed more than 530,000 insurance claims from 2017 to 2021 with a value of €88.7bn (US$90.4bn).

• Claims severity has increased while inflation will further challenge costs. Updating valuations of assets is key for companies and insurers.

JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE – Media OutReach – 19 July 2022 – A fire at a busy warehouse leaves a company struggling to replace its buffer stock; a ransomware attack paralyzes a company’s IT systems; the use of industrial adhesives in manufacturing results in a costly product recall: every day companies around the globe, together with their insurers, experience losses, in multiple forms, in the millions of dollars. Over the past five years, fire and explosion, natural catastrophes and faulty workmanship or maintenance have been the major causes of loss by value of insurance claims, according to the “Global Claims Review 2022” from Allianz Global Corporate & Specialty (AGCS).

“Insurance claims from companies have become more severe over the past five years due to factors such as higher property and asset values, more complex supply chains and the growing concentration of exposures in one location, such as in natural catastrophe-prone areas,” says AGCS Chief Claims Officer and Board Member Thomas Sepp. “The future does not look brighter anytime soon. Companies and their insurers have shown resilience to weather the loss impact of the pandemic, but the ongoing war in Ukraine, a spike in the cost and frequency of business interruption losses and the sustained elevated level of cyber claims are creating new challenges. At the same time, the top two causes of claims, fires and natural hazards, remain significant loss drivers for companies. Last but not least, the impact of soaring inflation around the world will bring further pressure on claims costs.”

Inflation puts undervaluation of assets in the spotlight

Ultimately, inflation brings pressure on claims costs from multiple angles. Property and construction insurance claims, in particular, are exposed to higher inflation, as rebuilds and repairs are linked to the cost of materials and labor, while shortages and longer delivery times inflate business interruption (BI) values. Other lines of insurance, such as directors and officers, professional indemnity and general liability, are also susceptible to inflationary pressures through rising legal defense costs and higher settlements.

“Replacement costs more and replacement takes longer, and this means both the property damage and the business interruption loss are likely to be significantly higher,” says Sepp. “Updating insured values for all new contracts is therefore a pressing concern for insurers, brokers and insureds. If this doesn’t happen, our clients run the risk of not being fully reimbursed in the event of a loss, while insurers run the risk of underpricing exposures. The insurance market has already seen a number of claims where there has been a significant gap between the insured’s declared value and the actual replacement value.” For example, in a claim for a commercial property destroyed in the 2021 Colorado wildfires, the rebuild value was almost twice the declared value, due to a combination of inflation, demand surge, and underinsurance.

An in-depth interview with Sepp on inflation and its impact on claims is available here.

What are the top causes of business insurance claims?

In one of the industry’s most comprehensive analyses, AGCS has identified the top causes of loss for companies from more than 530,000 insurance claims in over 200 countries and territories that it has been involved with between 2017 and 2021 (typically a number of insurers provide coverage jointly considering the huge values at stake in the corporate sector). These claims have an approximate value of €88.7bn, which means that the insurance companies involved have paid out – on average – over €48mn every day for five years to cover losses.

The analysis shows that almost 75% of financial losses arise from the top 10 causes of loss, while the top three causes account for close to half (45%) of the value. Despite improvements in risk management and fire prevention, fire/explosion (excluding wildfires) is the largest single identified cause of corporate insurance losses, accounting for 21% of the value of all claims. Fires have resulted in more than €18bn worth of insurance claims over five years, according to the analysis. Even the average claim totals around €1.5mn.

Natural catastrophes (15%) ranks as the second top cause of loss globally by value of claims. Collectively, the top five causes (based on more than 20,000 claims around the world) – hurricanes/tornados (29%); storm (19%); flood (14%); frost/ice/snow (9%) and earthquake/tsunami (6%) account for 77% of the value of all disaster claims. Hurricanes and tornados are the most expensive cause of loss, driven by the fact that two of the past five Atlantic hurricane seasons (2017 and 2021) now rank among the three most active and costliest on record, as well as recent record-breaking tornado activity. Insurers are also seeing new scenarios. During 2021, the ‘Texas Big Freeze’ in the US and flooding in Germany stood out as events that were both large but had unexpected claims. For example, the ‘Texas Big Freeze’ in February caused huge disruption to infrastructure and manufacturing, with many companies forced into shutdowns by widespread power outages, resulting in property damage and in some large contingent business interruption (CBI) losses. This event alone is estimated to have caused economic losses up to $150bn.

Faulty workmanship/maintenance incidents are the third top cause of loss overall (accounting for 9% by value) and are also the second most frequent driver of claims (accounting for 7% by number, ranking only behind damaged goods with 11%). Costly incidents can include collapse of building/structure/subsidence from faulty work, faulty manufacturing of products/components or incorrect design.

The other top 10 causes of loss are: aviation collision/crash (#4; 9%), machinery breakdown (#5; 5%), defective product (#6; 5%), shipping incidents (#7; 3%), damaged goods (#8; 3%), negligence/misadvice (#9; 2%) and water damage (#10; 2%).

Fire/explosion and negligence/misadvice each account for 20% of the value of all claims in Australia, while natural catastrophes (15%) rank third. A similar trend is observed in Singapore, where fire/explosion (#1; 24%) is the top cause of loss followed by negligence/misadvice (#2; 18%) and machinery breakdown (#3; 16%). Notably, while fires rank first in terms of total loss value in Singapore, they rank low in frequency, only occurring in 4% of claims by number. In China, the top 3 causes of loss include fire/explosion (#1; 19%), defective product (#2; 13%) which is driven by China’s status as the world’s largest goods manufacturer, and then shipping incidents (#3; 12%).

“Although bushfires and the recent floods in Australia make the headlines, fires in factories and other industrial production sites contribute to the largest share of losses,” says Volker Ziegs, Regional Head of Claims, Asia Pacific, AGCS. “Against a backdrop of higher property and asset values, as well as the interconnected nature of today’s supply chains, fires can have significant downstream effects on other businesses around the world, resulting in severe interruptions to operations and culminating in higher final loss totals.”

Business interruption losses on the rise

The claims analysis also highlights the growing relevance of BI as a consequence of losses in property insurance, and the fact that CBI claims have reached a new high over the past year. Costs associated with the impact of BI following the aftermath of a loss can significantly add to the final bill from an incident. The average BI property insurance claim now totals in excess of €3.8mn compared with €3.1mn five years ago. For large claims (>€5mn), the average property insurance claim which includes a BI component is more than double that of the average property damage claim.

The number of CBI claims has increased year-on-year for the past five years, exemplifying the growing interdependence and complexity of corporate supply chains. The automotive industry alone has seen several CBI events during this period, with the overall growth in CBI claims exacerbated in the last two years by a large loss in the semi-conductor manufacturing sector and the ‘Texas Big Freeze’ event. The claims from these two events more than tripled the number of CBI claims in the previous three years.

While not appearing in the top 10 causes of loss, the number of cyber claims has significantly increased over the past few years, driven by the rise of threats such as ransomware attacks, but also reflecting the growth of cyber insurance. AGCS has been involved in more than 1,000 cyber claims in both 2020 and 2021, compared with fewer than 100 in 2016. Claims frequency has begun to stabilize however, albeit at elevated levels.

The Covid-19 legacy and the Ukraine crisis

The report also investigates the insurance impact of recent specific claims events such as the pandemic and the Ukraine crisis. Insured losses from Covid-19 are in excess of $40bn according to industry estimates, with the bulk of claims coming from event cancellation insurance and BI claims from companies affected by lockdowns. The pandemic has also had knock-on effects such as stressed supply chains, heightened inflation, and financial insolvencies.

Meanwhile, Russia’s invasion of Ukraine is likely to result in a significant, yet manageable, loss for the global insurance industry. Insurers exposure to the conflict are limited by war exclusions, which are standard in most property/casualty insurance contracts. Expected insured losses from the war in Ukraine are comparable with a mid-sized natural catastrophe, according to AGCS, but specialist markets like aviation insurance could yet suffer disproportionately.

The report and further materials are available for download here.

Hashtag: #Allianz

About Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across nine dedicated lines of business and six regional hubs.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses. Among them are not only the world’s largest consumer brands, financial institutions, tech companies and the global aviation and shipping industry, but also satellite operators or Hollywood film productions. They all look to AGCS for smart solutions and global programs to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.

Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.